MF Global files for bankruptcyPosted by RJ and Makay on Nov 02, 2011 |
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MF Global Holdings Ltd. announced Monday that it is seeking bankruptcy protection. The announcement comes one week after reporting its largest-ever quarterly loss. The second- quarter loss of $191.6 million resulted largely from bad bets on European sovereign debt. MF Global shares plunged 66% last week after Moody’s downgraded the firm’s own debt to junk status.
Chapter 11 bankruptcy









